Market Wrap: Aus shares close 0.47% lower

Market Reports

Following a nervous day on international markets yesterday after the terrorist attack in Brussels, Aussie investors were also exercising caution resulting in the index closing 0.47 per cent lower. Like the previous two trading days this week, the big banks are once again proving to be the biggest drag on the market, with NAB today shedding the most down about 2 per cent. Not a good day for the energy space either with losses across the board after a fall in the oil price overnight. 
 
The S&P/ASX 200 index closed 24 points lower to finish at 5,142. 
 
The value of trades was $4.6 billion on volume of 670 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia (ASX:CBA), ANZ Banking Group (ASX:ANZ) and BHP Billiton Limited (ASX:BHP)
 
On the futures market the SPI is 33 points lower.

Company news

Watpac Limited (ASX:WTP) has revised the company’s full year profit outlook for 30 June 2016. The construction and mining services company says it’s expecting FY16 profit to be below that delivered in 2015. Watpac says the Group’s FY16 profit will be in the range of $8 million to $12 million. Shares in Watpac closed 3.54 per cent lower at $0.96. 
 
Woodside Petroleum Limited (ASX:WPL) has pulled out of its Browse Floating LNG project due to the falling oil price.
 
Nufarm Limited (ASX:NUF) has reported an underlying net profit of $11.9 million for the six months ended 31 January 2016.
 
Fonterra Shareholders’ Fund (ASX:FSF) has reported a jump in net profit to NZ$409 million in the six months ended 31 January 2016, a leap of 123 percent.

Best and worst performers

The best performing sector was Staples adding 0.9 per cent to close at 8,542. The worst performing sector was Materials, losing 1.4 per cent to close at 7,402 points.
 
The best performing stock in the S&P/ASX 200 was Ardent Leisure, rising 6.88 per cent to close at $2.33. Shares in Incitec Pivot and Programmed also closed higher.
 
The worst performing stock was St Barbara, dropping 15.44 per cent to close at $2.19. Shares in Mineral Resources and Iluka Resources also closed lower. 
 
IPOs

JC International Group Limited (ASX:JCI) started trading today. The construction services company floated with an issue price of $0.80, opened at $0.80 and closed at $0.90.    
 
Commodities and the dollar

Gold is trading at $US1,236 an ounce.
Light crude is $0.07 lower at $US41.45 a barrel.
The Australian dollar is buying $US0.7619. 
 
 
 

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